Top News for Real Estate Pros
Detroit Struggles To Expand Revitalization Outside Booming Downtown
Detroit Design District, a reclamation project in downtown Detroit, has showcased the redevelopment in the area that has been the focus of stakeholders in recent years, though the city struggles to expand that revitalization beyond the downtown area.
Starwood Limits Redemptions From $10 Billion Property Fund
Starwood Capital Group told investors that it would be restricting liquidity rights by more than 80%, limiting redemptions to 0.33% of its net assets a month from the up to 2% has allowed since its inception in 2018.
Blackstone To Sell Turtle Bay Resort to Host Hotels for $725 Million
Blackstone Real Estate plans to sell the 450-room Turtle Bay Resort in Kahuku, Hawaii, to Host Hotels & Resorts for $725 million. The sale of the Oahu North Shore resort should close in the third quarter of 2024.
WeWork's Exit From Downtown Dallas Skyscraper Makes Way for New Apartments
WeWork has announced its departure from Santander Tower in downtown Dallas as the skyscraper converts 14 floors of vacant office space to luxury apartments due to tenants pulling back on space.
Walmart Asks 1,266 Employees To Relocate As It Closes Downtown Dallas Office
Walmart is asking 1,266 employees working at its so-called technology innovation hub in downtown Dallas to relocate to other U.S. markets as part of its plan requiring remote employees to report to one of the retail giant's primary offices.
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